Category Archives: Net Worth

Net Worth – April 2007

Well it is time again for a net worth update. For those newer readers I do this every two months just to keep a pulse on how things are going.

Assets
House $240,000
RRSP $12,600
Old Work Pension $10,500
New Work Pension $800
Wife’s RRSP $5200
Wife’s Investment Account $5000
ING Savings Account $5800

Debt
Mortgage $148,400
Line of Credit $0

Therefore my net worth now stands at: $131,500. Overall an increase of +$46,050 or 54.5% from my last check up. Now I know this value looks huge, but keep in mind I did just get my over $7000 tax return and my house value has shot up a lot.

I should point out I determine my house value by looking at similar homes in the market place and account for improvements I make to the house. I’ve been keeping my estimates conservative to ensure they stay realistic. At the same time I’ve been realizing the market is picking up some serious steam lately. For example I recently saw a house very similar to mine with some extra improvements and an extra 100 square feet of space listed for $289,000. I just can’t realistically undervalue my home by more than $50,000 so the value had to come up a bit larger of a jump than normal to cover the gap. I’m acutely aware that by using a conservative market price for my house that if there is a market crash my net worth will drop like a stone. Yet after being through a market like this once before with my last house I know you can’t ignore it either.

Also please note that I’ll submitting a post to the second Canadian Tour of PF Blogs which is going to be hosted by the Money Diva on May 7th. If you have any requests for a topic I’m open to ideas (since I currently don’t have a clue what I’m going to write about).

Canadian Tour of Personal Finance Blogs

Net Worth Update

For those whom have been reading me for a while you might wonder why it takes me a while to post an update on my net worth. After all my last one was in Dec, 2006. To be honest I find tracking it on a monthly basis just a bit too mind numbing for my taste, but in the interest of knowing how I’m doing I have decided to update it every two months. So here we go.

Assets
House $200,000 (I raised this up a bit to cover some recent house improvements and also to reflect my most recent market survey of house prices in my area.)
RRSP $12,200
Old Work Pension $10,500
New Work Pension $500
Wife’s RRSP $5000
Wife’s Investment Account $4400
ING Savings Account $2000

Debt
Mortgage $149,150
Line of Credit $0

Therefore my net worth now stands at: $85,450.

Overall a nice little increase (+$5,250 or 6.5%) from my last check up. As you might have noticed my new work pension has kicked in so that should help out the savings nicely. I will note here that these numbers were from Feb 26 when I started pulling them together and don’t count in yesterday’s slide on the markets (but my guess would be that slide dragged me down around $500 total).

Year End Check Up: Net Worth Update

With the end of the year approaching I think it is time to take a snap shot of my net worth and find out how I’m doing. In general practice, even if you do nothing else for the entire year of tracking your net worth it is useful to get an end/start of year snap shot of your financial health so you can track your progress at least yearly.

Assests
House $198,000 (I recently did a survey of house listings in the area, apparently my last estimate of $195, 000 is a bit low since a house with 500 sq ft less that mine is selling for $198,000.)
RRSP $11,600
Wife’s RRSP $4800
Old Work Pension $10,500 (I’m almost embrassed to say I forgot about this in my first net worth calculation)
Wife’s Investment Account $4200
ING Savings Account $1000

Debt
Mortgage $149,900
Line of Credit $0 (As I mentioned before, I keep this as part of my emergancy fund.)

Therefore my net worth now stands at: $80,200.

Even with my ‘lost’ pension money that is still a nice little increase from my first net worth check back in Nov. See you in the New Year.